Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by Altimeter Capital Management LP

Altimeter Capital Management LP increased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 46.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 584,430 shares of the company's stock after acquiring an additional 184,430 shares during the quarter. Astera Labs comprises about 1.4% of Altimeter Capital Management LP's portfolio, making the stock its 17th largest holding. Altimeter Capital Management LP owned approximately 0.37% of Astera Labs worth $77,408,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs in the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC increased its stake in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Astera Labs during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the 4th quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after purchasing an additional 284 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Down 0.9 %

NASDAQ:ALAB traded down $0.62 during mid-day trading on Tuesday, reaching $71.54. The company's stock had a trading volume of 4,070,322 shares, compared to its average volume of 3,830,812. The firm has a market capitalization of $11.80 billion, a PE ratio of -41.35, a price-to-earnings-growth ratio of 6.18 and a beta of 0.32. The stock has a fifty day moving average of $64.36 and a 200-day moving average of $91.65. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In other news, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the transaction, the director now owns 91,794 shares of the company's stock, valued at $8,452,391.52. The trade was a 2.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares of the company's stock, valued at $16,723,139.14. The trade was a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 633,990 shares of company stock valued at $54,235,012 over the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ALAB shares. Raymond James initiated coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective for the company. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Morgan Stanley decreased their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Craig Hallum increased their price target on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $109.25.

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.